MoviePass, the subscription-based movie ticketing service, is making a significant pivot into the world of blockchain technology and fantasy sports. The company has announced the launch of Mogul, a new platform that enables users to compete against each other in fantasy-style tournaments and challenges focused on predicting movie performance, critical ratings, and box office success.

Mogul, built on Mysten Labs' Sui blockchain, will allow users to win digital collectibles, known as NFTs, and in-game currency. The platform's leaderboard will rank users based on their predictions, fostering a competitive environment among film enthusiasts. According to MoviePass co-founder and CEO Stacy Spikes, Mogul is the culmination of the company's long-term Web3 strategy, aiming to "activate a new generation of fans who aren't just watching movies but influencing the culture and economy around them."

The launch of Mogul marks a significant departure from MoviePass' original business model, which focused on providing unlimited movie tickets to subscribers for a flat monthly fee. The company's previous struggles with financial sustainability led to its bankruptcy and subsequent acquisition by analytics firm Helios and Matheson. However, under new leadership, MoviePass is taking a more transparent approach, with Spikes emphasizing the company's commitment to meeting fans where they are.

Mysten Labs co-founder and CEO Evan Cheng highlighted the potential of Mogul to "unlock a new category of on-chain consumer experiences" and push the boundaries of fan engagement. With over 400,000 people already signed up for the platform's early-access waitlist, Mogul is poised to become a significant player in the entertainment industry.

MoviePass plans to integrate Mogul into its existing app, blending ticketing, fandom, and speculation into a seamless entertainment experience. The company's shift towards blockchain technology and fantasy sports betting raises questions about its original mission to disrupt the entertainment industry. However, with a new leadership team at the helm, MoviePass is betting on Mogul to revitalize its brand and attract a new generation of film enthusiasts.

The implications of Mogul's launch extend beyond the entertainment industry, as it represents a significant foray into the world of blockchain-based consumer experiences. As the platform grows and evolves, it will be interesting to see how it influences the broader tech industry and shapes the future of fan engagement.